53,189 Shares in Nexstar Media Group, Inc. (NASDAQ:NXST) Acquired by Raymond James Financial Inc.

Raymond James Financial Inc. bought a new position in Nexstar Media Group, Inc. (NASDAQ:NXST - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 53,189 shares of the company's stock, valued at approximately $8,402,000. Raymond James Financial Inc. owned about 0.17% of Nexstar Media Group at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Victory Capital Management Inc. increased its holdings in Nexstar Media Group by 41.9% in the third quarter. Victory Capital Management Inc. now owns 20,571 shares of the company's stock worth $3,401,000 after buying an additional 6,071 shares during the last quarter. Natixis Advisors LLC grew its position in Nexstar Media Group by 1.2% in the third quarter. Natixis Advisors LLC now owns 10,185 shares of the company's stock worth $1,684,000 after acquiring an additional 117 shares in the last quarter. Pathstone Holdings LLC increased its stake in shares of Nexstar Media Group by 6.7% during the 3rd quarter. Pathstone Holdings LLC now owns 22,009 shares of the company's stock worth $3,639,000 after purchasing an additional 1,388 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Nexstar Media Group by 46.8% during the 3rd quarter. Advisors Asset Management Inc. now owns 21,908 shares of the company's stock valued at $3,622,000 after purchasing an additional 6,984 shares in the last quarter. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its stake in shares of Nexstar Media Group by 5.8% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 111,905 shares of the company's stock valued at $18,504,000 after purchasing an additional 6,101 shares during the last quarter. 95.30% of the stock is owned by hedge funds and other institutional investors.

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Insider Activity

In related news, CEO Perry A. Sook sold 37,025 shares of the firm's stock in a transaction on Thursday, December 26th. The stock was sold at an average price of $160.14, for a total value of $5,929,183.50. Following the completion of the transaction, the chief executive officer now directly owns 674,694 shares of the company's stock, valued at $108,045,497.16. This trade represents a 5.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gary Weitman sold 1,241 shares of Nexstar Media Group stock in a transaction on Friday, March 7th. The stock was sold at an average price of $177.21, for a total transaction of $219,917.61. Following the sale, the insider now owns 3,975 shares in the company, valued at $704,409.75. This represents a 23.79 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 73,112 shares of company stock valued at $12,085,893. Insiders own 6.30% of the company's stock.

Nexstar Media Group Stock Performance

NASDAQ NXST traded up $1.75 during trading on Wednesday, hitting $182.75. The company's stock had a trading volume of 488,491 shares, compared to its average volume of 343,795. Nexstar Media Group, Inc. has a 52 week low of $146.04 and a 52 week high of $191.86. The firm has a market cap of $5.58 billion, a P/E ratio of 10.57, a price-to-earnings-growth ratio of 0.45 and a beta of 1.47. The firm has a 50 day moving average price of $160.76 and a 200 day moving average price of $164.26. The company has a quick ratio of 1.68, a current ratio of 1.68 and a debt-to-equity ratio of 2.98.

Nexstar Media Group (NASDAQ:NXST - Get Free Report) last announced its quarterly earnings data on Thursday, February 27th. The company reported $7.56 earnings per share (EPS) for the quarter, missing the consensus estimate of $9.22 by ($1.66). The company had revenue of $1.49 billion during the quarter, compared to analyst estimates of $1.48 billion. Nexstar Media Group had a return on equity of 26.03% and a net margin of 11.39%. Equities research analysts forecast that Nexstar Media Group, Inc. will post 21.62 earnings per share for the current fiscal year.

Nexstar Media Group Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, February 26th. Stockholders of record on Wednesday, February 12th were issued a dividend of $1.86 per share. This is an increase from Nexstar Media Group's previous quarterly dividend of $1.69. The ex-dividend date of this dividend was Wednesday, February 12th. This represents a $7.44 annualized dividend and a dividend yield of 4.07%. Nexstar Media Group's payout ratio is presently 34.56%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on NXST. Guggenheim raised their target price on Nexstar Media Group from $210.00 to $220.00 and gave the company a "buy" rating in a report on Friday, February 28th. Loop Capital raised Nexstar Media Group from a "hold" rating to a "buy" rating and raised their price objective for the company from $190.00 to $200.00 in a research note on Friday, February 28th. Barrington Research restated an "outperform" rating and issued a $200.00 target price on shares of Nexstar Media Group in a report on Wednesday, March 5th. StockNews.com downgraded Nexstar Media Group from a "buy" rating to a "hold" rating in a report on Monday, March 3rd. Finally, Rosenblatt Securities restated a "buy" rating and issued a $200.00 price objective on shares of Nexstar Media Group in a research note on Monday, March 10th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $208.43.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc operates as a diversified media company that produces and distributes engaging local and national news, sports and entertainment content across the television and digital platforms in the United States. It owns, operates, programs, or provides sales and other services to various markets; and offers television programming services.